Larson Financial Group LLC Raises Holdings in Joby Aviation, Inc. (NYSE:JOBY)

Larson Financial Group LLC boosted its stake in Joby Aviation, Inc. (NYSE:JOBY) by 218.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,290 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Larson Financial Group LLC’s holdings in Joby Aviation were worth $37,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ieq Capital LLC raised its holdings in Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after buying an additional 1,807,054 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after purchasing an additional 435,069 shares during the period. SG Americas Securities LLC grew its stake in shares of Joby Aviation by 346.4% in the second quarter. SG Americas Securities LLC now owns 336,062 shares of the company’s stock worth $1,714,000 after purchasing an additional 260,780 shares during the last quarter. Finally, Bouvel Investment Partners LLC purchased a new position in Joby Aviation during the 3rd quarter valued at about $614,000. Institutional investors own 45.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Needham & Company LLC started coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Canaccord Genuity Group reduced their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.35.

Insider Buying and Selling

In other Joby Aviation news, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the transaction, the insider now directly owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Cahill Sciarra sold 166,666 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the transaction, the director now owns 59,828,059 shares in the company, valued at approximately $308,114,503.85. This represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 535,526 shares of company stock worth $2,745,708 in the last 90 days. Insiders own 32.40% of the company’s stock.

Joby Aviation Trading Up 11.9 %

Shares of JOBY stock opened at $8.95 on Friday. The company’s fifty day moving average price is $5.84 and its 200-day moving average price is $5.48. The stock has a market cap of $6.85 billion, a PE ratio of -12.79 and a beta of 1.97. Joby Aviation, Inc. has a 12 month low of $4.50 and a 12 month high of $9.33.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period in the previous year, the firm earned ($0.13) EPS. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Joby Aviation Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.